BRIEF-Stanley Black & Decker Reports 2Q 2022 Results
BRIEF-Stanley Black & Decker Reports 2Q 2022 Results
July 28 (Reuters) - Stanley Black & Decker Inc SWK:
STANLEY BLACK & DECKER REPORTS 2Q 2022 RESULTS
Q2 REVENUE ROSE 16 PERCENT TO $4.4 BILLION
Q2 GAAP EARNINGS PER SHARE $0.51
IMPLEMENTING GLOBAL COST REDUCTION PROGRAM EXPECTED TO DELIVER PRE-TAX SAVINGS OF $1 BILLION BY END OF 2023
EXPECTED PRE-TAX SAVINGS FROM COST REDUCTION PROGRAM TO GROW TO APPROXIMATELY $2 BILLION WITHIN 3 YEARS.
UPDATING FULL YEAR 2022 DILUTED GAAP EPS GUIDANCE RANGE TO $0.80 - $2.05
UPDATING FULL YEAR 2022 ADJUSTED DILUTED EPS GUIDANCE TO $5.00 - $6.00
STANLEY BLACK & DECKER - HAS IMPLEMENTED SIGNIFICANT PRODUCTION CURTAILMENTS TO SLOW FINISHED GOODS MANUFACTURING
STANLEY BLACK & DECKER - & EXPECTS INVENTORY TO DECLINE SEQUENTIALLY, BEGINNING Q3 2022
STANLEY BLACK & DECKER - CO EXPECTS COST REDUCTION INITIATIVES TO GENERATE COST SAVINGS OF APPROXIMATELY $150 TO $200 MILLION IN REMAINDER OF 2022
STANLEY BLACK & DECKER - AGGRESSIVELY REDUCING INVENTORY TO SUPPORT WORKING CAPITAL REDUCTION OF $1.0 TO $1.5 BILLION & FREE CASH FLOW GENERATION IN H2 OF 2022
EXPECTS TO ACHIEVE $1 BILLION OF COST SAVINGS BY END OF 2023
EMBARKING ON A THREE-YEAR JOURNEY TO COMPLETELY RESHAPE ITS SUPPLY CHAIN
TOTAL PRE-TAX ACQUISITION-RELATED AND OTHER CHARGES IN Q2 OF 2022 WERE $248.1 MILLION
Q2 EARNINGS PER SHARE VIEW $2.12, REVENUE VIEW $4.75 BILLION -- REFINITIV IBES DATA
FY2022 EARNINGS PER SHARE VIEW $9.66, REVENUE VIEW $18.82 BILLION -- REFINITIV IBES DATA
STANLEY BLACK & DECKER - EXCLUDING SUCH PAYMENTS, CASH GENERATION EXPECTED TO BE $1.0 TO $1.5 BILLION DRIVEN BY WORKING CAPITAL REDUCTIONS IN FY
STANLEY BLACK & DECKER - SEES FCF $0.4 TO $1.0 BILLION IN BACK HALF OF YEAR INCLUDING TAX PAYMENTS OF $0.5 TO $0.6 BILLION ASSOCIATED WITH SECURITY DIVESTITURES
Source text for Eikon: ID:
Further company coverage: SWK